Kurdistan Operations Update

Dublin

11th August 2014

Petroceltic International Plc

Kurdistan Region of Iraq - Operations Update

Petroceltic International plc (PCI.L) ("Petroceltic" or "the Company"), the independent oil and gas exploration company focused on the Middle East, North Africa, Mediterranean and Black Sea regions, provides the following update with respect to its operations in the Kurdistan Region of Iraq.

In conjunction with Hess Middle East New Ventures our partner and the operator of our exploration activities in the Kurdistan Region of Iraq we have been closely monitoring recent events in the region. While these developments have not directly impacted our exploration activities to date, in line with other operators in the region, it has been decided, as a precautionary measure, to temporarily secure and suspend operations (including the drilling of Shireen-1 exploration well in the Dinarta licence) and to evacuate non-essential personnel.

Further updates will be provided as appropriate.

Ends

For further information, please contact:

Brian O' Cathain /Tom Hickey, Petroceltic International Tel: +353 (1) 421 8300

Philip Dennis / Rollo Crichton-Stuart,

Bell Pottinger Tel: +44 (20) 7861 3919

Joe Murray / Joe Heron, Murray Consultants Tel: +353 (1) 498 0300

John Frain / Roland French, Davy Tel: +353 (1) 679 6363

Notes to Editors:

Petroceltic International plc is a leading Upstream Oil and Gas Exploration and Production Company, focused on the Middle East, North Africa, Mediterranean and Black Sea regions, and listed on the London Stock Exchange's AIM Market and the Irish Stock Exchange's ESM Market. The Company has production, exploration and development assets in Algeria, Egypt, Bulgaria, Romania, the Kurdistan Region of Iraq, Italy and Greece.